The Globalization of the Formula One Championship

Paper Summary:

This paper discusses how increased television coverage which has made Formula One racing the third most watched sporting event in the world has led to effective globalized marketing and an increase in sponsorship. Increased sponsorship in turn leads to increased media coverage. The author concludes by using the Shell-Ferrari Formula One relationship as an example to show the positive effect of sponsorship on Shell customers.

Outline
Growth of Formula One Popularity and Globalization
Globalized Marketing and Racing Globalization
Sponsorship and Globalized Brands in Relation to Formula One Racing

From the Paper:

"By sponsoring Formula One racing events, organizations increase public awareness of their presence in the marketplace. They enhance their company image and can alter public perception. Sponsorship can build business and trade relationships, as well as goodwill, globally. They can increase target market awareness and build positive image dimensions. In addition, they can build brand preference and increased sales, while blocking competition in an increasingly competitive world, due to globalization."

Sample of Sources Used:

• Aninat, Edward. "Surmounting the Challenges of Globalization." Finance and Development 39, no. 1 (2002), 39.
• Jenkins, Mark. "Innovative Management: Superior Performance in Changing Times." European Business Journal, 16, no. 1 (2004), 10-19.
• Joachimsthaler, E. & Aaker, D. "Building Brands without Mass Media." Harvard Business Review (January-February 1997), 39-50.
• "The Need for Speed." Marketing Management 16, no. 1 (January-February, 2007), 7.
• Sweeney, John. "SportsCast: 10 Controversial Issues Confronting the Sports Industry." The Futurist, 41, no. 1 (January-February 2007), 35-39.

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• Analytical Essay # 45662 : "The Masque of the Red Death"

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